Wednesday, Feb 11, 2009
If you’re not willing to cut your price dramatically, you’d better be able to rent out your property
Fool.co.uk: Sellers Need To Reduce Their Prices
RICS – the body for chartered property surveyors – reported today figures collected from 203 of its surveyors across the country. They have found that new buyer enquiries increased for the third month in a row. Yet they also found house prices still fell.
More importantly, completed sales aren’t growing with increasing enquiries, staying flat at under 10 per surveyor in the last three months. (That figure comes from surveyors in England and Wales only.) That means sales are down 67% from a high of 30 in January 2007. That is the lowest number of completed sales since the RICS survey began in 1978.
What’s more, this is all despite big rate cuts beginning back in October, which should have stimulated interest.
Posted by ronan carter @ 11:04 AM (423 views) Add Comment
3 Comments
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1. a saver said...
And will the banks continue to let people keep two mortgages going in the current climate?
2. plato said...
New buyer enquiries are to find out the real situation in price movements instead of reading the stats that no one really trusts anymore.......and it all points to a wait and see policy.
3. will said...
What a great article - sensible journalism at last..